Ann: Investment by Quintiles, Placement of 225 mi, page-13

re: Ann: Investment by Quintiles, Placement o... PJ, Gumboot,
"As I read the announcement Quintiles are buying a MAXIMUM of $2.25M worth of shares at around $0.1624."

Why would they pay that? I think they are a private company.
Maybe to get the work? Do you think it is encouraging that the trial co wants equity? I guess it is just chump change to them, but nobody throws away that sort of money.(except for a few polis we know)

[January 2, 2008.
JP Morgan Chase Private Equity arm, One Equity Partners, is selling its stake in Quintiles for $ 3 billion. Bain Capital will be the new lead investor, along with UK based 3i Group become a significant investor, and existing investor Texas Pacific Group (TPG) increasing its stake.

Quintiles, the largest Clinical Research Organization (CRO), with a market share of 14%, went private in 2003 through a $1.7 billion buy-out led by CEO Dennis Gillings. The market for CRO services is estimated at $14 billion and is expected to grow to $ 24 billion by 2010. The top five CROs, including Quintiles, PPD and Covance, hold a 45% share of the market.]
http://biobusinessblog.wordpress.com/2008/01/02/private-equity-firm-bain-capital-new-lead-investor-in-cro-quintiles/

No arguement that cash could have been raised earlier at a higher price.